There's a lot more to drilling a hole than just the bit. They spoke of CwD and that is a proven technology, but you need a much bigger rig to drill and case at the same time. Plus they keep referring to drilling to deeper depths. I wonder if this plasma drill bit will be able to withstand the temps at these depths. I haven't been the business for many years, but to my knowledge CwD has only been used in shallow holes.
The vid shows a workover rig and implies they can use this rig to drill to these 'deep depths'. That's just advertising. When you need a rig that can handle over a million lbs, you need some serious iron.
But, back in the day, we use to laugh and hate running what we called 'pac bits', that Reed was developing. Now these types of bits are commonly used and drill faster and longer than the old tri-cone bits. You just never know what will work and what won't, unless you give it a try.
